Most people are familiar with the good old Traditional Savings Account, but there are actually a range of savings options beyond the familiar traditional accounts! Each of the four types of savings accounts discussed here caters to distinct financial goals and needs while offering varying interest rates and accessibility features. Learn more about these accounts in the conversation below:

Check out this article for the latest on the best rates for savings accounts, which are crucial for optimizing your earnings and achieving your financial goals faster.

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If you're new to FinCap Friday, or haven't yet used it with your students, then check out our blog post about how to integrate current events into your curriculum with NGPF's weekly FinCap Friday current events series!

About the Authors

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

Yanely Espinal

Born and raised by Dominican, immigrant parents in Brooklyn, Yanely is a proud product of NYC public schools. She graduated from Fiorello H. LaGuardia High School in 2007 before going on to receive her bachelor's degree at Brown University in 2011. As a Teach For America corps member, Yanely taught third and fourth grade in Canarsie, Brooklyn. She received her master's degree from Relay Graduate School of Education in 2013. She spends her spare time making YouTube videos about personal finance on her channel, MissBeHelpful. Yanely also loves to dance, sew, paint, listen to podcasts, and babysit her 10 nieces and nephews!